APPLIED ENERGETICS, INC. (OTCMKTS:AERG) Files An 8-K Other Events
Item 8.01 – Other Events
Cancellation and Return of One Million Shares of Common Stock
We have entered into a Mutual Release and Hold Harmless Agreement with Christopher Rahne resolving claims related to the issuance of 1,000,000 shares of our common stock, par value $.001 per share, to Mr. Rahne, as directed by prior company CEO George Farley, as compensation for valuation services. The agreement provides for the return by Mr. Rahne of 1,000,000 shares of our common stock for cancellation in exchange for mutual releases. We have now received the certificates and submitted them for cancellation to our transfer agent.
About APPLIED ENERGETICS, INC. (OTCMKTS:AERG)
Applied Energetics, Inc. is a shell company. The Company focuses on reactivating its previous business activities. The Company was engaged in the design, development and manufacture of applied energy systems for military and commercial applications and ultra-short pulse lasers and high voltage lasers for commercial applications. The Company is seeking to sell or license its technology. The Company is focusing on developing ultra-short pulse lasers (UPS). It is preparing for the next stage of laser guided energy (LGE) development that involves the development of USP laser technologies. These lasers will allow for LGE weapon systems to be mounted on mobile platforms for multiple anti-terrorist missions, including counter measures against drones and other hostile inbound objects, counter-improvised explosive devices (C-IED) and vehicle stopping, among others.